Vanguard Group Inc. Acquires 29,339 Shares of Eagle Pharmaceuticals, Inc. (NASDAQ:EGRX)
Vanguard Group Inc. raised its position in shares of Eagle Pharmaceuticals, Inc. (NASDAQ:EGRX) by 6.8% during the first quarter, Holdings Channel reports. The institutional investor owned 458,060 shares of the specialty pharmaceutical company’s stock after buying an additional 29,339 shares during the period. Vanguard Group Inc.’s holdings in Eagle Pharmaceuticals were worth $37,991,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in EGRX. Mason Street Advisors LLC increased its position in Eagle Pharmaceuticals by 10.2% in the first quarter. Mason Street Advisors LLC now owns 1,895 shares of the specialty pharmaceutical company’s stock worth $157,000 after buying an additional 175 shares in the last quarter. Norges Bank acquired a new position in Eagle Pharmaceuticals during the fourth quarter worth $5,634,000. Strs Ohio acquired a new position in Eagle Pharmaceuticals during the first quarter worth $663,000. Oxford Asset Management acquired a new position in Eagle Pharmaceuticals during the first quarter worth $1,559,000. Finally, Thrivent Financial For Lutherans increased its position in Eagle Pharmaceuticals by 9.5% in the first quarter. Thrivent Financial For Lutherans now owns 4,600 shares of the specialty pharmaceutical company’s stock worth $382,000 after buying an additional 400 shares in the last quarter.
Eagle Pharmaceuticals, Inc. (EGRX) traded down 0.5131% on Monday, reaching $55.3545. 41,740 shares of the company were exchanged. The stock has a 50 day moving average of $67.41 and a 200 day moving average of $76.03. Eagle Pharmaceuticals, Inc. has a 12-month low of $45.05 and a 12-month high of $97.15. The firm has a market capitalization of $839.67 million, a PE ratio of 9.2939 and a beta of 1.31.
Eagle Pharmaceuticals (NASDAQ:EGRX) last posted its quarterly earnings results on Wednesday, August 9th. The specialty pharmaceutical company reported $0.33 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.51 by $0.18. Eagle Pharmaceuticals had a return on equity of 66.30% and a net margin of 39.32%. The firm had revenue of $50.10 million for the quarter, compared to the consensus estimate of $52.52 million. During the same period last year, the company posted $0.80 earnings per share. The business’s revenue was up 22.5% compared to the same quarter last year. Equities analysts anticipate that Eagle Pharmaceuticals, Inc. will post $3.38 EPS for the current year.
Eagle Pharmaceuticals announced that its board has initiated a stock buyback program on Wednesday, August 9th that permits the company to buyback $100.00 million in outstanding shares. This buyback authorization permits the specialty pharmaceutical company to repurchase up to 13.3% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s management believes its stock is undervalued.
EGRX has been the topic of a number of recent research reports. Royal Bank Of Canada set a $94.00 price target on shares of Eagle Pharmaceuticals and gave the company a “buy” rating in a report on Sunday, July 16th. Zacks Investment Research upgraded shares of Eagle Pharmaceuticals from a “strong sell” rating to a “hold” rating in a report on Monday, July 10th. Piper Jaffray Companies set a $118.00 price target on shares of Eagle Pharmaceuticals and gave the company a “buy” rating in a report on Tuesday, July 25th. ValuEngine downgraded shares of Eagle Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a report on Thursday, August 3rd. Finally, BidaskClub upgraded shares of Eagle Pharmaceuticals from a “hold” rating to a “buy” rating in a report on Wednesday, June 21st. Three analysts have rated the stock with a sell rating and four have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $75.40.
In other news, CFO Pete A. Meyers purchased 350 shares of the company’s stock in a transaction on Monday, June 12th. The shares were purchased at an average cost of $71.49 per share, with a total value of $25,021.50. Following the completion of the transaction, the chief financial officer now owns 350 shares of the company’s stock, valued at approximately $25,021.50. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Douglas L. Braunstein purchased 20,400 shares of the company’s stock in a transaction on Wednesday, August 9th. The shares were purchased at an average cost of $49.07 per share, for a total transaction of $1,001,028.00. The disclosure for this purchase can be found here. Insiders have acquired 21,205 shares of company stock worth $1,062,818 over the last ninety days. Insiders own 19.50% of the company’s stock.
About Eagle Pharmaceuticals
Eagle Pharmaceuticals, Inc is a specialty pharmaceutical company. The Company focuses on developing and commercializing injectable products in the critical care and oncology areas. The Company’s product portfolio includes products, including Argatroban; Ryanodex; docetaxel injection, non-alcohol formulation; and Bendeka.
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